SEC Form 4/A · accession 0000314808-16-000373
Valaris Ltd · VAL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Francis S Kalman
Director
Period of report
Jun 1, 2016
Accepted (ET)
Jun 8, 2016 · 5:09 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000314808
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Ordinary SharesF1,F2,F3 | Jun 1, 2016 | F | 367 | $9.65 | D | 29,810 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On June 3, 2016, the reporting person filed a Form 4 reporting that 891 Class A ordinary shares were withheld to satisfy tax withholding obligations that arose upon vesting. Due to administrative error, this number was incorrectly reported. The correct number of shares withheld to satisfy tax withholding obligations is 367.
- F2Upon the vesting of our restricted share units, the reporting person is required to pay the aggregate nominal value (par value), $0.10 per share, of our Class A ordinary shares actually issued, in accordance with U.K. corporate law. In connection with the transaction reported above, the reporting person paid $319.50 to Ensco plc with respect to the shares actually issued upon vesting of the restricted share units. The remaining 367 shares were withheld and not issued to satisfy certain tax withholding obligations.
- F3Represents the correct amount of securities beneficially owned following all of the reporting person's transactions that occurred on June 1, 2016.